What’s Your Money Doing In Their Wallets?

From above of dollar bills in opened black envelope placed on stack of United states cash money as concept of personal income

Here’s a nifty trick: Each year Americans spend more than $33 billion* on often outrageous banking and financial firm fees. Those banks then take about $100 million** of that and spend it on lobbying and campaign contributions to, among other things, try to stop efforts to reign in – you guessed it – outrageous bank fees. See how this works?

This means that every time you pay a monthly maintenance fee or an ATM fee, a portion of that money – your money – is then being used to lobby for permission to charge you higher fees or even to take down the signs on ATMs warning you of the fees in the first place.

That’s probably not where you want your money to go.

Aspiration has a different idea. When you use the Aspiration Summit Account, not only do you get an interest rate up to 100 times higher than that from the Big Banks, but there are none of the monthly maintenance fees or ATM fees.***

The only monthly fee that Aspiration earns from you is what you decide we deserve. And instead of turning around and spending that money on lobbying against your interests, we commit to donate 10% of earnings to microloans helping Americans lift themselves out of poverty.

So, where would you rather keep your money?

https://www.marketwatch.com/story/overdraft-fees-havent-been-this-bad-since-the-great-recession-2018-03-27

** Based on 2016-2017 opensecrets.org lobbying spend data for banks and securities firms.

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